Davenport Equity Correlations

Mutual Funds . USA . 
Fund . Davenport Equity Opportunities
DEOPX Fund  USD 23.55  0.48  2.00%   
The current 90-days correlation between Davenport Equity Opp and World Precious Minerals is 0.28 (i.e., Modest diversification). The correlation of Davenport Equity is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Davenport Equity Correlation With Market

Good diversification

The correlation between Davenport Equity Opportunities and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davenport Equity Opportunities and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Davenport Equity Opportunities. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Davenport Mutual Fund

  0.86DSCPX Davenport Small CapPairCorr
  0.96DAVPX Davenport E FundPairCorr
  0.86DBUYX Davenport Insider BuyingPairCorr
  0.92VIMAX Vanguard Mid CapPairCorr
  0.92VIMSX Vanguard Mid CapPairCorr
  0.97VMCPX Vanguard Mid CapPairCorr
  0.95VEMPX Vanguard Extended MarketPairCorr
  0.95VIEIX Vanguard Extended MarketPairCorr
  0.86VSEMX Vanguard Extended MarketPairCorr
  0.95VEXMX Vanguard Extended MarketPairCorr
  0.93FSMAX Fidelity Extended MarketPairCorr

Moving against Davenport Mutual Fund

  0.49THRRX Thornburg Limited TermPairCorr
  0.45NSIVX North Square InvestmentsPairCorr
  0.43TIKPX Tiaa-cref Inflation-linkedPairCorr
  0.42INVYX Pioneer InternationalPairCorr
  0.4AILCX American Beacon IntePairCorr
  0.55TRSHX Tiaa-cref Short-termPairCorr
  0.54FTELOX FteloxPairCorr
  0.52MXGMX Great West GovernmentPairCorr
  0.49LIDRX Lord Abbett InternationalPairCorr
  0.45LIDCX Lord Abbett InternationalPairCorr
  0.42TGROX Tiaa Cref GreenPairCorr
  0.41MXEGX Great-west CorePairCorr
  0.4GAMDX Goldman Sachs LocalPairCorr
  0.4THCAX Thornburg Core PlusPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Davenport Mutual Fund performing well and Davenport Equity Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Davenport Equity's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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